Mumtalakat and ARP Group Partner to Launch AI-Native Wholesale Bank in Bahrain
Bahrain's sovereign wealth fund, Mumtalakat, has partnered with ARP Group to establish a new wholesale bank headquartered in Bahrain. The venture will be an AI-native and blockchain-enabled institution designed to serve regulated financial institutions, payment companies, and businesses involved in cross-border operations. The proposed bank aims to reduce the complexity and cost of international banking by utilizing artificial intelligence and programmable API-driven services. While the project has received in-principle approval from the Central Bank of Bahrain, it will only commence regulated activities once final authorization is secured.
Topics: Artificial Intelligence Banking Blockchain Fintech Sovereign Wealth Fund
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Part of the story Mumtalakat and ARP Group Partner to Launch AI-Native Wholesale Bank in Bahrain (3 articles)